Top 10 Largest US Companies by Market Capitalisation (2024)

As traders, it is important to have a grasp of the largest companies in the world and have some idea of their operations. In this article, we will look specifically at the ten largest US companies. These will be some of the most traded companies in the world, so having a good knowledge of them is vital to creating opportunities for us as traders.

In this article, we will look at:

Why does market capitalisation matter?

There are multiple ways to measure the size of companies, ranging from their sales revenue to profits and even their number of employees or market share. For the purposes of this article, we will use market capitalisation as our measure. This is the market value of a publicly traded company’s outstanding shares, so calculated by multiplying the number of outstanding shares by the share price. Market capitalisation shows the equity value of a company and can be seen as a gauge of public opinion on a company’s value.

10 Largest US Companies

*According to CompaniesMarketCap.com, as of 9/09/2024

Most of these companies will likely recognise and consume many of their products and services. We can see that seven of these firms breach the one trillion-dollar mark, with NVIDIA breaking into the top 3 on the back of rising AI demand. Technology companies dominate the list.

1. Apple (AAPL)

Notable Products: iPhone, iPad, MacBook, Apple Watch, AirPods, HomePod, Apple TV, Vision Pro, Apple services (AppStore, Licensing, Apple Care, Apple Music, iCloud)

Taking the number one spot on our list is Apple, being the only US company with a market capitalisation of nearly $3.4 trillion. As you will be aware, Apple is a hardware and software developer that innovates and develops all kinds of technology and operating systems, specifically consumer technology such as smartphones and computers.

Apple was founded in 1976 by Steve Jobs, Steve Wozniak, and Ronald Wayne, going public in 1980, finding success through the development and production of its early computers. In 1985 power struggles between executives led Wozniak to step back and Jobs to resign, founding NeXT. This led to a rough period for Apple through the 1990s as they lost market share to Microsoft, nearing bankruptcy in 1997 when they purchased NeXT and brought Jobs back. Over the next few decades, Apple began to dominate, powered by the innovation of new products such as the iPod, iPhone, iMac, Apple Watch and its latest, the Apple Vision Pro.

Apple is often listed as one of the most valuable brands in the world, benefiting from the high level of brand loyalty it has established with its consumers through its high-quality, easy-to-use products powered by its operating systems. One key part of Apple’s strategy that has allowed it to grow so substantially is its purchase of small tech companies, such as Beats Electronics, Anobit Technologies, Dialog Semiconductor and NeXT along with multiple others. These allow Apple to easily integrate elements from these companies into their product

The CEO of Apple is Tim Cook, taking over from Steve Jobs in 2011. The company employs over 161,000 people and has 530 retail stores worldwide as of 2023.

2. Microsoft (MSFT)

Notable Products: Windows operating system, Office productivity suite, Azure cloud platform, Xbox gaming consoles, Surface devices, Copilot

Microsoft is a global technology leader and the second-largest company in the US by market capitalisation. The company develops software, including the widely used Windows operating system and Office productivity suite, while also offering cloud solutions through Azure. Microsoft’s consumer products include Xbox gaming consoles, Surface devices, and a growing range of AI-powered tools like Copilot, which is integrated into Microsoft 365 applications. Recent innovations include integrating OpenAI’s language models into its Bing search engine and Edge browser, making search more interactive.

The company continues to invest heavily in AI, cloud computing, and mixed reality. Its partnership with OpenAI, investment in the HoloLens mixed reality device, and the acquisition of Nuance Communications reflect its focus on emerging technologies. Microsoft has also made major corporate acquisitions, including LinkedIn, Skype, and the announced $69 billion acquisition of gaming giant Activision Blizzard.

Founded in 1975 by Bill Gates and Paul Allen, Microsoft is headquartered in Redmond, Washington. CEO Satya Nadella, who took over in 2014, has driven the company’s shift to cloud computing and AI, further building on the company’s legacy of innovation.

3. NVIDIA

Notable Products: Graphics processing units (GPUs), AI platforms, Autonomous driving technology, Omniverse

NVIDIA is a global leader in graphics processing units (GPUs), artificial intelligence (AI), and high-performance computing (HPC), serving industries ranging from gaming and entertainment to data centres and autonomous vehicles. Founded in 1993 by Jensen Huang, Curtis Priem, and Chris Malachowsky, the company is headquartered in California and went public in 1999. Initially known for its pioneering role in gaming GPUs, NVIDIA now leads the world in AI, deep learning, and data processing technologies through its advanced hardware and software, including the CUDA platform.

With GPUs at the core of AI and machine learning frameworks, NVIDIA has expanded into key markets like autonomous driving through its NVIDIA DRIVE platform, and 3D simulation through Omniverse. Its latest architectures, such as Ampere and Hopper, have powered a surge in demand for its products, particularly as industries adopt AI solutions.

NVIDIA has also grown through acquisitions, such as Mellanox Technologies in 2020, which enhanced its data centre capabilities. The attempted acquisition of ARM Holdings was blocked in 2022, but the company’s value has continued to skyrocket due to the global AI boom. NVIDIA’s market cap surpassed $2.6 trillion in 2024, cementing its status as a key player in the AI revolution.

4. Alphabet (GOOG)

Notable Products: Google Search, Gmail, YouTube, Google Cloud, Pixel smartphones, Android operating system, Gemini AI, Bard AI chatbot, LaMDA AI model

Alphabet Inc., formerly known as Google LLC, is a technology multinational and the parent company of Google. Founded in 1998 by Larry Page and Sergey Brin, the company began as a search engine and went public in 2004. Over the years, Google has revolutionised how the world accesses information, becoming the dominant player in the search engine market, while also expanding into a wide array of technological arenas.

In 2015, Google restructured to form Alphabet Inc. to improve transparency and oversight of its growing number of ventures. Google’s core businesses include not only its search engine but also products like YouTube, Gmail, Google Maps, and the Android operating system, as well as its Google Cloud services, which provide AI, machine learning, and data analytics solutions.

Alphabet has a strong focus on artificial intelligence. In 2023, it launched Bard, a generative AI chatbot designed to compete with other AI models like ChatGPT. The company later rolled out the AI platform Gemini. Additionally, AI tools are being integrated into Google Search and Workspace products such as Docs and Gmail. Alphabet’s LaMDA AI model is another significant development in its AI portfolio.

5. Amazon (AMZN)

Notable Products: Online marketplace, Amazon Prime, Amazon Web Services (AWS), Kindle e-readers, Echo smart speakers, Alexa voice assistant, Amazon Fire TV Stick & Tablet

Amazon, founded by Jeff Bezos in 1994, started as an online bookstore but has since transformed into a global leader in e-commerce, cloud computing, and digital services. Today, Amazon operates the world’s largest online marketplace outside of China, selling products ranging from electronics and apparel to groceries and furniture, with many items supplied by third-party sellers.

Amazon has revolutionised the way people shop, offering convenience through fast shipping, competitive pricing, and extensive product selection. Amazon Prime, the company’s membership program, provides benefits like free two-day shipping, access to Prime Video, and Amazon Music, making it a cornerstone of customer loyalty.

Beyond e-commerce, Amazon is a dominant force in cloud computing through Amazon Web Services (AWS), which provides critical infrastructure for businesses around the world, from startups to Fortune 500 companies. AWS offers services in machine learning, artificial intelligence (AI), data analytics, and more, making it a key driver of Amazon’s profitability.

Amazon is also a leader in artificial intelligence. The Alexa voice assistant powers millions of smart devices, while AI is deeply integrated into the company’s logistics, recommendation engines, and warehouse management. The company continues to innovate in autonomous technologies, including robotic systems in its fulfilment centres and drone delivery through Amazon Prime Air.

Amazon has ventured into physical retail with its Amazon Go cashierless stores and Whole Foods, which it acquired in 2017. It also continues to grow in entertainment with Prime Video, competing with platforms like Netflix, Disney+, and Amazon Music in the streaming space.

6. Meta Platforms (META)

Notable Products: Facebook, Instagram, WhatsApp, Messenger, Meta Quest VR platform, Oculus VR headsets

Meta Platforms, formerly known as Facebook, is a leading technology company that operates some of the world’s most popular social media platforms, including Facebook, Instagram, WhatsApp, and Messenger. Founded in 2004 by Mark Zuckerberg and three other students at Harvard University, Meta has grown into one of the “Big Five” American tech companies alongside Apple, Microsoft, Alphabet, and Amazon.

In 2021, Facebook rebranded as Meta Platforms to reflect its focus on the metaverse—a digital world that blends virtual and augmented reality. Through its Meta Quest VR platform and Oculus VR headsets, Meta is investing heavily in creating immersive digital experiences. The company’s Reality Labs division is spearheading these efforts, though the shift to the metaverse has been expensive and has faced financial challenges.

Despite its push into VR and AR, Meta’s core business remains its social media platforms, which connect billions of users worldwide. These platforms not only facilitate personal connections but also serve as essential tools for businesses and political organisations to reach large audiences. Meta continues to drive around 98% of its revenue from advertising, with ad sales reaching over $135 billion in 2024.

Meta is also expanding its AI capabilities, using artificial intelligence to personalise content recommendations and optimise advertising. It has integrated AI across its platforms for features like content moderation, misinformation control, and e-commerce.

Under the leadership of CEO Mark Zuckerberg, Meta continues to innovate, both in its core social media platforms and in the emerging metaverse, as it seeks to shape the future of digital interaction and virtual reality.

7. Berkshire Hathaway (BRK-B)

Notable Investments: Geico, Duracell, Kraft Heinz, Apple, American Express, Coca-Cola, Bank of America

Berkshire Hathaway is a unique entity among the largest American companies. As a multinational conglomerate holding company, it focuses on acquiring significant or controlling interests in businesses across various industries. Founded in 1839, Berkshire became widely known due to the investment acumen of Warren Buffett, who took control of the company in the 1960s. Under Buffett’s leadership as Chairman and CEO, Berkshire Hathaway has grown into a global giant by investing in undervalued companies with strong fundamentals.

Berkshire Hathaway wholly owns large businesses such as GEICO, Fruit of the Loom, Dairy Queen, and Duracell. Additionally, the company holds substantial minority stakes in major corporations. As of 2024, Berkshire owns approximately 5.82% of Apple, making it the company’s largest single investment. Other significant holdings include American Express (20.29%), Coca-Cola (9.25%), Bank of America (12.96%), and Kraft Heinz (26.5%).

While Warren Buffett remains at the helm, Greg Abel has been named as his likely successor. Charlie Munger, Buffett’s long-time partner, continues to serve as Vice Chairman. Succession planning has been a point of interest for investors as Berkshire looks toward the future.

Berkshire Hathaway is known for its conservative financial management, significant cash reserves, and opportunistic investments, often acquiring stakes in companies during market downturns. Despite the company’s size and diversification, its focus remains on long-term value, making it one of the most admired and influential firms in the world.

8. Eli Lilly (LLY)

Notable Products: Insulin, Antidepressants, Cancer Treatments, Tirzepatide (Mounjaro for Diabetes and Weight Loss), Trulicity, Verzenio

Eli Lilly and Company is a leading global pharmaceutical company, specializing in developing, manufacturing, and marketing medicines in areas like diabetes, oncology, immunology, neuroscience, and cardiovascular diseases. Founded in 1876 by Colonel Eli Lilly in Indianapolis, Indiana, the company has grown into one of the largest pharmaceutical firms in the world, with a strong reputation for innovation and patient care.

Some of Eli Lilly’s key products include Trulicity (for type 2 diabetes), Humalog, Jardiance, Taltz (for psoriasis), Verzenio (for breast cancer), Cyramza, Olumiant, Emgality, and Retevmo. The company’s diabetes drug Mounjaro (tirzepatide), approved for type 2 diabetes treatment, has also shown promise as a weight loss drug, making it a potential game-changer in both markets.

Eli Lilly invests heavily in research and development, spending over $7 billion annually to discover and develop new treatments. The company is particularly focused on breakthroughs in areas like Alzheimer’s disease, where its drug donanemab is in development, aiming to treat neurodegenerative conditions.

With over 35,000 employees worldwide and operations in more than 120 countries, Eli Lilly’s reach is global, but its commitment to improving patient outcomes remains central to its mission. The company’s recent financial success has been driven by strong growth in its diabetes and oncology portfolios, particularly with the success of Trulicity, Taltz, and Mounjaro.

9. Broadcom (AVGO)

Notable Products: Semiconductors, Network Interface Controllers, Wireless Chips, Infrastructure Software

Broadcom is a global technology leader specialising in semiconductors and infrastructure software solutions. The company designs, develops, and supplies a wide range of products, including microprocessors, amplifiers, Ethernet controllers, wireless LAN devices, routers, switches, and data centre products. Broadcom’s semiconductor technologies are integral to applications in smartphones, data centres, cloud computing, telecom equipment, and industrial systems. It also provides software solutions for mainframe, enterprise servers, and storage systems, following its expansion into infrastructure software.

Founded in 1961 as part of Hewlett-Packard’s semiconductor division, Broadcom has grown to become a major player in the tech industry through strategic acquisitions. Key acquisitions include Avago Technologies in 2016, CA Technologies in 2018, Symantec’s enterprise security division in 2019, and VMware in 2023. These acquisitions have bolstered Broadcom’s presence in cybersecurity, cloud computing, and enterprise software.

Broadcom is a leader in networking and wireless technologies, with its semiconductors powering 5G networks, Wi-Fi 6, and Bluetooth technologies. The company’s components are critical in automotive, industrial, and consumer electronics, making it a key supplier for major tech companies and industries worldwide. Its infrastructure software offerings serve large enterprises, helping them manage networks, data storage, and security.

Headquartered in San Jose, California, Broadcom employs over 21,000 people globally and continues to expand its reach across diverse industries. The company’s diversified product portfolio and strong financial performance have positioned it as a vital player in both the semiconductor and enterprise software markets.

10. Tesla (TSLA)

Notable Products: Electric Vehicles, Solar Panels, Energy Storage Systems, Autopilot, Full Self-Driving (FSD), EV Charging Points

Tesla, the world’s largest automaker by market capitalisation, is a leader in electric vehicles (EVs), energy storage, and renewable energy solutions. Founded in 2003 by Marc Tarpenning and Martin Eberhard, Tesla received early investment from Elon Musk, who became chairman in 2004 and later the company’s CEO. Tesla is named after inventor Nikola Tesla and went public in 2010. Musk remains the largest shareholder and the driving force behind its vision of sustainable energy and transportation.

While Tesla initially focused on producing fully electric vehicles, it has since diversified into related markets under Musk’s leadership. The company has developed a robust charging infrastructure with its Supercharger network and provides vehicle services. Tesla’s energy division produces products like solar panels, solar roof tiles, and energy storage solutions, including the Powerwall, Powerpack, and Megapack, aimed at both residential and grid-scale applications.

Tesla is also at the forefront of autonomous driving technology, with its Autopilot and Full Self-Driving (FSD) systems. The company is working toward fully autonomous vehicles and has developed the Dojo supercomputer to train AI models, further advancing its self-driving technology.

The company has significantly expanded its production capacity with Gigafactories around the world, including locations in Shanghai, Berlin, and Texas, which support the growing demand for its electric vehicles and energy products. Tesla delivered a record 1.8 million vehicles in 2023, led by popular models like the Model 3 and Model Y, and is gearing up for the release of the Cybertruck and Tesla Semi.

We hope you have come away more knowledgeable about the top 10 largest US companies by market capitalisation.

Learn more about the biggest companies in different countries and regions around the world by reading our other articles:

• Top-10 largest non-US companies by market capitalisation
• 10 Biggest UK-based Companies
• Africa’s Top-10: Leading Companies by Market Capitalisation
• Top 10 Largest Latin American Companies
• Top 10 Largest Companies in China
• Economic Powerhouses: Trillion-Dollar Companies Club

Also, we recommend you to find out with our Trader’s Guide to the 10 Major Global Economies by GDP.

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